Flutter Entertainment plc (NYSE:FLUT) Given Average Rating of “Buy” by Analysts

Flutter Entertainment plc (NYSE:FLUT) has been given an average rating of “Buy” by the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $246.44.

A number of research firms have commented on FLUT. Morgan Stanley began coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. Oppenheimer lifted their price target on Flutter Entertainment from $240.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their target price on Flutter Entertainment from $218.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Susquehanna upped their price target on Flutter Entertainment from $222.00 to $230.00 and gave the company a “positive” rating in a research report on Wednesday, August 14th.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors bought a new stake in Flutter Entertainment in the 1st quarter valued at about $2,880,796,000. Capital Research Global Investors bought a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. bought a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $1,578,442,000. Capital International Investors acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $507,170,000. Finally, Marshall Wace LLP grew its holdings in Flutter Entertainment by 339.2% in the 2nd quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock worth $196,354,000 after buying an additional 831,585 shares in the last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $231.86 on Friday. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $234.54. The firm has a 50-day moving average of $206.17 and a two-hundred day moving average of $200.52.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, research analysts expect that Flutter Entertainment will post 4.75 EPS for the current year.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.